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Several large investment firms are writing off a recession in the US in 2024 as growth holds up and inflation steadily declines, but T. Rowe Price thinks that optimism may be misplaced. While T. Rowe Price doesn't have an official call on the economy, the brightest minds at the $1.4 trillion Baltimore-based firm urged investors to be cautious at a mid-November conference. However, T. Rowe Price is skeptical that the Fed will end its fight against inflation anytime soon. T. Rowe Price found that through October, those names rose 53.2% compared to a 1.2% year-to-date return for the other 493 companies in the S&P 500. Dom Rizzo, a portfolio manager of global technology equity strategy at T. Rowe Price, agreed that the Magnificent 7's momentum won't stop just because the group is pricey.
Persons: Rowe Price, Goldman Sachs, Goldman, Jan Hatzius, Rowe Price doesn't, We're, Tim Murray, Rowe Price's, Murray, We've, Rowe, Uruci, he's, it's, Tesla, let's, Dom Rizzo, Rizzo, septet, Santa, He's Organizations: Citi, UBS Global Wealth Management, Business, Federal Reserve, Apple, Microsoft, Nvidia, Meta, AMD Locations: Baltimore, Santa Clara
This means the property will probably be in a fairly affordable range, and won't be too much to manage. This can mean the economic and population trends in the state or city you're looking to invest in are positive. Making sure a deal cash flowsConsidering the above criteria, Trench said to make a "buy box," or a specific outline of the exact type of property you're looking for. The "buy box" should include specific neighborhoods you're looking to buy in, and a specific price range you're looking to buy in. After all of these expenses, the landlord would still pocket $390 a month, Trench said.
Persons: Scott Trench, Trench Organizations: Business Locations: Troy , New York
Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed. It has recently emerged that Nvidia CEO Jensen Huang and AMD CEO Lisa Su are first cousins once removed, with 60-year-old Huang being the older cousin. Nvidia and AMD did not immediately respond to requests for comment from Insider sent outside regular business hours. The genealogist — a person who traces lines of family descent — published a condensed family tree on her Facebook account in June. Wu also interviewed a close family member of the two while putting together the family tree, per CNN.
Persons: Jensen Huang, Lisa Su, Su's, , Huang, Su, Huang's, Jean Wu, It's, Wu, Jensen Organizations: Nvidia, Service, AMD, CNN, Consumer Technology Association webinar, Oneida Baptist Institute, Oregon State University, Massachusetts Institute of Technology, Devices, IBM, Freescale Semiconductor Locations: Taiwan, Taiwanese, Taipei, Thailand, Washington, Kentucky, Tainan, New York
Starting a YouTube channel can be a heavy lift but can have big marketing benefits. "My clients joke around that if you have a question, I've probably got a YouTube video on it," Liszewski said. Maximize the SEO benefitsOne of the best ways to grow your YouTube channel — and business — is to tap into its SEO potential. While monetization can be a nice perk (and help offset any costs associated with creating YouTube videos), Liszewski said it shouldn't be the primary goal for business owners using YouTube as a marketing channel. Charon swears by batching her YouTube content creation.
Persons: SBOs, , Mariah Liszewski, Liszewski, she's, Mariah, Dielle, Charon, she'd, She's, I've, soley, she'll, shouldn't, batching Organizations: Small, Service, Mariah Magazine, YouTube
How Do You Charge a Friend for a Professional Favor?
  + stars: | 2023-10-21 | by ( Sara Murphy | ) www.nytimes.com   time to read: +1 min
Mid-conversation, Eryka asked, “Should I be paying you for this?”I paused. I had hired Eryka, who is 49, for her coaching four years ago, so we had exchanged money for services before. And if I want to succeed as a freelancer, I can’t always provide free work. Yet when Eryka suggested the possibility that we move from friendly favor to negotiating a payment, I demurred. “And then if you’re a generous person, and it’s natural for you to give, you’re going to want to give it to them.
Persons: Eryka, , , Blair Glaser Locations: Los Angeles
Meanwhile, parents and experts say schools neglect students with math disabilities like dyscalculia, which affects up to 7% of the population and often coexists with dyslexia. Learning struggles for some may be due to dyscalculia or other math learning disabilities, yet few teachers report their students have been screened for dyscalculia. Experts say learning the most effective methods for teaching students with math disabilities could strengthen math instruction for all students. Part of the problem is that teachers don’t receive the training needed to work with children with math disabilities. “It’s pretty rare for undergraduate degrees or even master’s degrees to focus on math learning disabilities with any level of breadth, depth, quality or rigor,” said Amelia Malone, director of research and innovation at the National Center for Learning Disabilities.
Persons: Laura Jackson, ” Jackson, Jackson, ’ ” Jackson, “ There’s, Karen Wilson, it’s, , Sandra Elliott, Young, dyscalculia, that’s, Lynn Fuchs, don’t, , Amelia Malone, Heather Brand, , Malone, screeners, “ It’s Organizations: Associated Press, Christian Science Monitor, Dallas Morning News, Idaho Education, Courier, The Seattle Times, ___ Nationwide, , dyscalculia, Teachers, Vanderbilt University ., National Center for Learning, National Center for Learning Disabilities, New, Carnegie Corporation of New, AP Locations: Idaho, South Carolina, , U.S, Seattle, Virginia, New York City, Carnegie Corporation of New York
Here are 8 unconventional ways I get to live my life because I didn't take VC money:AdvertisementAdvertisement1. I'm able to make my own scheduleI start my day at noon, go out for dinner, and work until midnight. I'm able to grow slowly – the way that I want to growIt took us 36 months to hit $1 million annual recurring revenue. I can raise capital on my own termsA common misconception with bootstrapped companies is that they raise zero capital. That kind of sacrifice is not for everyone, and sometimes I do wonder whether it'd just be easier to raise capital.
Persons: Melissa Kwan, bootstrapped, Kwan, , we're Organizations: Service Locations: , New York
Social media is a great tool for promotion, but it's also handy for collecting insights about what customers want. Build a social media presence for the new business and use it as a way to gather feedback. Social media is a great tool for promotion, but it's also handy for collecting insights about what customers want. Build a social media presence for the new business and use it as a way to gather feedback. Attract the first customers to your business with smart, small-business marketing strategiesAttracting and retaining the right customers is critical to small business success.
Persons: it's Organizations: Products, Management, Spectrum Business, SCORE, Service Corps, Insider Studios
Today's consumers expect a seamless experience whether they're shopping online, in person, or a combination of both. To attract and retain customers, merchants need to prioritize affordability and convenience by providing a seamless payment experience across channels. This is an example of the type of seamless, omnichannel checkout experience today's consumers look for in the brands they shop with. These modern shoppers expect convenience, great prices, and the same level of service and security whether they're shopping online or in a store. On October 24, PayPal is sponsoring a virtual event, "How Seamless Omnichannel Payments Drive Sales."
Persons: Adam Kronengold, Lucky Brand, Cindy Turner, Julie Fergerson Organizations: PayPal, Authentic Brands, Merchant Risk, Merchant, Insider Studios
Many crypto and asset management industry professionals now expect the first so-called spot bitcoin funds to launch in 2024 . The number of firms jockeying for a spot bitcoin ETF has already broken into double digits, and it's still growing. The largest bitcoin futures ETF, the ProShares Bitcoin Strategy ETF (BITO) , has an expense ratio of 0.95%. Valkyrie has a Bitcoin Strategy ETF (BTF) that holds futures and has also applied to launch a spot product. He pointed to a Roundhill Ether Futures ETF filing with a proposed 0.19% fee as a more realistic target.
Persons: Franklin Templeton, Steven McClurg, we're, else's, McClurg, Ric Edelman, Bryan Armour, Armour Organizations: Securities, Exchange Commission, BlackRock, Valkyrie Investments, Digital Assets, Financial Professionals, North America, Morningstar, Fidelity Locations: BlackRock, Invesco
New York CNN —Some big-name employers are signaling they will get tough on enforcing their return-to-office mandates after Labor Day. It’s hard to say whether such moves by well-known companies signal a broader trend of employers getting serious about enforcing RTO policies. Meanwhile, one study suggests the hours employees spend at work on the days they do go in may be changing. The state of enforcementFor all the various data and research that seeks to capture the reality and impact of hybrid work policies, it’s hard to find nationally representative, statistically significant samplings of HR executives detailing their organization’s return-to-office policies or enforcement strategies. For example, the HR team at Gartner, which helps clients design and implement workplace policies, did a live poll survey of 225 of its HR clients during a webinar on May 31.
Persons: Andy Jassy, unaddressed, haven’t, webinar, Organizations: New, New York CNN, Labor, Amazon, Meta, Business, Merck, Kastle, Kastle Systems, Survey, Instituto Tecnologico Autonomo, Stanford University, The University of Chicago, Gartner, Locations: New York, Kastle, Instituto Tecnologico Autonomo de Mexico
That $5,250 is the federal cap on the amount of tax-free money that employers may offer to help defray employees’ qualified costs for their own education, including tuition and fees. In response to the Society of Human Resource Management’s 2023 employer benefits survey, only 8% of organizations said they offer student loan benefits to employees, a percentage that hasn’t changed for five years. But lawmakers who advocated for tax-advantaged employer benefits to help with student loan payments are concerned there hasn’t been enough public awareness of it. That may be of particular interest now that the yearslong pause in payments on federal student loans is expiring. But for anyone who also has to pay off private student loans, the amount they shell out every month is likely much higher.
Persons: it’s, , hasn’t, Danny Werfel, , Katie Lobosco Organizations: New, New York CNN, Society of Human, IRS, Federal Locations: New York
Blackstone's data center gamble
  + stars: | 2023-08-28 | by ( Daniel Geiger | Rebecca Ungarino | ) www.businessinsider.com   time to read: +12 min
The firm has recently touted its data center investments amid the artificial intelligence boom. Blackstone's push into data centers comes with its own set of challenges and questions. "You might not own apartment buildings in 10 years, but the largest data center company in the world." Meghji said in the company's video that interest from data center users in QTS data centers had doubled "since ChatGPT came out." Gerber said he had recently discussed data center investments with Blackstone representatives and has confidence in the strategy.
Persons: Blackstone, , Glenn Schorr, Schorr, outflows, Stephen Tuckwood, Tuckwood, Jonathan Gray, Gray, Jeenah, Chad Williams, BREIT, they're, Patrick Davitt, QTS, Nadeem Meghji, Meghji, ChatGPT, Matthew Barakat, Prince William County, redemptions, Selwyn Gerber, Gerber, Matt Malone Organizations: Blackstone, Income Trust, QTS Realty Trust, Evercore, Wealth Management, Reuters, Autonomous Research, Blackstone Infrastructure Partners, McKinsey, AP, Starwood, MSCI's, Los, RVW, Opto Investments, FS Investments Locations: California, BREIT, QTS, Americas, CBRE, Manassas , Virginia, Prince William, Virginia, Brookfield, Los Angeles, Bellagio, Las Vegas
Competition for buy-side jobs, including at private equity firms and hedge funds, can be fierce. Insider identified the 13 recruiting firms aspiring dealmakers and traders should know for a buy-side job. The buy-side hiring spree is expected to continue despite a slowdown in mergers and acquisitions — a cornerstone of private equity investing. BellCast Partners works with mega funds, middle market funds, infrastructure funds, impact funds, real estate private equity funds, sector-focused funds, sovereign wealth funds, family offices, and credit funds. Today it does searches in private equity, growth equity, distressed, credit, venture capital, hedge funds, family offices, and select investment banks.
Persons: headhunting, Brain O'Callaghan, John Arbolino, Arbolino, Amity, Pamela Esterson, Susanna Nichols, Nichols, Esterson, Danielle Caston Strazzini, Alison Bellino Johnson, BellCast, Caston Strazzini, Jill Pierce, Spencer Stuart, Pierce, , Brian O'Callaghan, it's, Renee Hylton, Keith Mann, Josh Grauer, Grauer, Mann, Adam Zoia, Annette Krassner, Katie Cunningham, Sarah Armstrong, Cunningham, Armstrong, Anna Brady, Janelle Matthews, Beth Grossman, Brady, they've, Morgan Stanley Eleni Henkel, Henkel, Leah Trabich, HSP, Carlyle, Warburg Pincus, Adam Kahn, Kahn, Anthony Keizner, Keizner, Nina Swift, Marty Brady, Vedica Qalbani, Qalbani, Lindsey Mead, Jessica Wu, Michael Garmisa, SearchOne, Sheri Gellman, Gellman Organizations: Citadel, nab, Boothroyd, Co, Wall, Amity Search Partners, Palm Beach Staff, SG Partners, Bain Capital, Centerbridge Partners, Trian Partners, BellCast, Charlotte Staff, CPI, BellCast Partners, Investor Relations, Nashville, San Francisco, Wharton, Harvard, Stanford, New York Staff, Partners, San Francisco Staff, Los Angeles Staff, TPG, Thoma Bravo, Bessemer Venture Partners, EQT, Elliott, Equity, KKR, ICONIQ, Spectrum Equity, Henkel Search, Search Partners, New York, Oxbridge, Nashville Staff, Time Warner, Indiana University, SG Locations: New York, San Francisco, Austin, San Diego, Chicago, Los Angeles , New York, Phoenix, West Coast, Los Angeles, NYC, California, United States, Boston, Dallas, Atlanta, Columbia, Latin America, Asia, Europe, San Francisco , New York, Bay, Gold, Los Angeles , Greenwich, Nashville, Amity, South Florida
After spending too much time and money because I'd rather avoid tough conversations, I finally learned the importance of "firing fast." The concept of "hire slow, fire fast" has been popularized by startup culture, referring to the agility required to grow a company in a competitive environment. In our first two years, we made five wrong hires that ended up costing $450K because we didn't "fire fast." The most expensive thing about wrong hires is not money — it's time (and sadly sometimes friendships, as mentioned above). While not all costs can be avoided — because you don't know what you don't know — they can be mitigated by "firing fast."
Persons: Melissa Kwan, Kwan, It's, it's, I've, Dev, we'd, , We've Organizations: Morning
United Auto Workers members on strike picket outside General Motors' Detroit-Hamtramck Assembly plant in Detroit with Sen. Bernie Sanders, of Vermont, far left, Sept. 25, 2019. "However, with current inventories hovering around only 55 days, the industry looks different than it did during the last UAW strike." The automaker said the strike cost it about $3.6 billion that year in earnings. He said the union has no plans to extend the current contracts to allow for bargaining to continue without a strike, which was previously common practice. AEG's estimates do not include UAW strike pay or assessments for strike pay, unemployment benefits or unemployment taxes, income taxes on wages and other potential effects such as settlement bonuses.
Persons: Sen, Bernie Sanders, Tyler Theile, hasn't, Patrick Anderson, Shawn Fain, Tom Narayan, GM's Organizations: United Auto Workers, General Motors, Hamtramck Assembly, DETROIT, Detroit's Big, UAW, Ford Motor, Anderson Economic Group, AEG, Consumer, Detroit automakers, GM, Automotive Press Association, Ford, RBC Capital Locations: Detroit, Hamtramck, Vermont, Michigan
Hawaii Army National Guard CH47 Chinook helicopters perform aerial water bucket drops on the island of Maui to assist with fight of wildfires in Maui, Hawaii, August 9, 2023. An out-of-control wildfire that began along a major Central Maui highway burns Thursday July 11, 2019, in Maui, Hawaii. “Especially when you have severe drought conditions like we have.”Despite these growing dangers, Hawaii state budgets for fire management have not kept pace with worsening conditions, according to the Hawaii Wildfire Management Organization, a nonprofit. Hawaii is hardly unique: As climate change is exacerbating natural disasters, state officials across the country are also struggling to respond to new threats. And it’s unclear how significantly additional preparedness and mitigation efforts could have reduced the destruction of a blaze with the intensity and speed of the Lahaina wildfire.
Persons: Pamela Brown’s, , Hurricane Dora, didn’t, Clay Trauernicht, Matthew Thayer, Abby Frazier, ” Nani Barretto, Gov, Sylvia Luke, , Josh Stanbro, Josh Green, Frazier, ” “ Organizations: CNN, Hawaii Army National Guard, Hawaii National Guard, University of Hawaii, Hawaii Emergency Management Agency, Maui News, Clark University, Hawaii Wildfire Management Organization, Locations: Hawaii, , Maui, Lahaina, Maui County, Central Maui, Massachusetts
Morning Bid: A sticky inflation situation
  + stars: | 2023-08-10 | by ( ) www.reuters.com   time to read: +5 min
With a relentless set of rate hikes, the Federal Reserve has managed to drive consumer price increases down to 3%, from last June's 9.1%. The Atlanta Fed compiles an index of core sticky consumer prices - goods or services for which the cost changes far more slowly. Reuters GraphicsLine chart with data from the Bureau of Economic Analysis and Federal Reserve shows PCE inflation slowed to 3% year-on-year in June, while core PCE inflation also eased to 4.2%. Chart shows economists polled by Reuters expecting the U.S. consumer price index to have increased 0.2% in July 2023 from the previous month, the same pace as June 2023. * Federal Reserve Bank of Atlanta President Raphael Bostic gives welcome remarks at a webinar, 1500 EDT/1900 GMT.
Persons: Brendan McDermid, Amanda Cooper, they're, Mary Daly, Raphael Bostic, Tomasz Janowski Organizations: New York Stock Exchange, REUTERS, Federal Reserve, American Automobile Association, Federal Reserve Bank, Cleveland, Atlanta Fed, Reuters Graphics, Reuters, Federal Reserve Bank of San Francisco, Yahoo Finance, Federal Reserve Bank of Atlanta, Thomson Locations: New York City, U.S, Manheim
"So why not be in a situation where you're just much more ready in case you...need to access this discount window?" An analysis of Fed data by Reuters, though, shows a lot still needs to be done to meet that goal. All told, about 3,800 banks borrowed from the discount window during the 11-year period detailed in the central bank data. The biggest banks also stepped up to borrow so as to reduce discount window stigma. Minneapolis Fed President Neel Kashkari said small banks should think of the discount window as a backup.
Persons: Brittany Hosea, Jerome Powell, I’ve, Lorie Logan, Banks, Goldman Sachs, Huberto Ennis, Michelle Bowman, Brad Tidwell, SVB, Austan Goolsbee, Richmond Fed's Ennis, Neel Kashkari, Ann Saphir, Michael S, Andrea Ricci Organizations: Bank, REUTERS, Federal Reserve, Reuters, Dallas, U.S, Fed, Reuters Graphics Reuters, Richmond Fed, National Credit Union Association, Chicago Fed, Federal Home Loan Bank, Minneapolis, Home Loan Bank, Thomson Locations: Santa Clara , California, U.S, Silicon, Washington, While California, Texas, Logan's, New Mexico, Louisiana, Henderson , Texas
Global Head of Fixed Income Group Sara Devereux said on Thursday the probability of another interest rate increase by the Fed this year stood at 50%. Beyond that, the U.S. central bank was likely to maintain a "hawkish hold" on rates. "We don't think they're going to cut rates anytime soon ... the Fed may have more work to do." Vanguard, which manages $8 trillion in assets, said its base case scenario remained for a shallow recession in 2024 as higher interest rates hit the economy. "The downside risk ... is the Fed overshoots and they drive us into a deeper recession."
Persons: Sara Devereux, Jerome Powell, Devereux, Davide Barbuscia, Matthew Lewis Organizations: YORK, Vanguard, Reserve, Thomson Locations: U.S, New York
Private-equity recruiting for 2025 roles officially kicked off Friday, including at Apollo and TPG. Many of those bankers had barely started their current investment-banking jobs, and others were still in training sessions for them. As always, the firms were recruiting first-year investment banking analysts for jobs that won't start until 2025. Midnight interviews are not uncommon in private-equity recruiting, nor are "exploding offers," which demand that candidates make a decision before leaving the interview room to prevent them from shopping around. $300,000 offersOver the years, on-cycle recruiting has crept up on candidates earlier and earlier.
Persons: I'm, It's, Carlyle, Warburg Pincus, , webinar, headhunting, Brian O'Callghan, O'Callaghan Organizations: Apollo, TPG, nab, General Atlantic, KKR, Permira, TPG Capital, Labor Locations: York
Ark Invest's Cathie Wood said her flagship innovation fund has reduced its China exposure to zero as the developing market faces an economic slowdown. ARKK used to own shares in Chinese tech giant Tencent and property site KE Holdings . The innovation investor said she changed her stance on China after Beijing started to tighten its grip on the economy by cracking down the ultrawealthy and the tech sector. ARK Fintech Innovation ETF (ARKF) still owns a small stake in Chinese e-commerce company JD.com , but it has dumped other Chinese names like Pinduoduo and Tencent. Her flagship fund has had a banner year so far as her top holdings rebounded from sharp losses triggered by rising rates.
Persons: Cathie Wood, Tesla, Wood, ARKK, China's, she's Organizations: Ark, CNBC, New York Stock Exchange, Innovation, KE Locations: China, Beijing
When I was getting started with my business, I hired a business coach, and it was a great investment. My business coach helped identify ways I could grow my reach, find a niche, and make more money. Around that same time, I hired my first business coach — and it cost me $5,000. My business coach helped answer my questions in five ways. A business coach is trained to see your potential and all the opportunities that are right under your nose.
Organizations: Service, Locations: Wall, Silicon
Her team found that 63% of slightly damaged boats didn't follow protocol, compared with 36% that did. Roughly half of the damaged boats followed protocol, and the other half didn't. The protocol didn't seem to have an effect. "In very severe damage, when towing is required, we don't find significant evidence to follow or not follow our protocol," she said in the webinar. But the leading ideas are curious young orcas or defensive behavior by orcas that have been harmed before, González said in the webinar.
Persons: Mónica, González, Serge Melesean, there's, John Hargrove Organizations: Service, Orca Behavior, SeaWorld, Bloomberg Locations: Portuguese, Spain, Strait, Gibraltar, Mayotte, France
White Gladis, the orca believed to be behind recent boat encounters, has a family acting with her. Meet White Gladis' familyWhite Gladis is part of a 6-orca pod including herself, two siblings, two calves, and a mother. She gave birth to White Gladis in 2005, who is her oldest offspring, followed by Gladis Clara and Gladis Dalila. White Gladis went on to give birth to Gladis Filabres in 2015 and Gladis Tarik in 2021. Gladis Clara, White Gladis' sibling, is a male orca, but the sex is unknown for Gladis Dalila and White Gladis' two offspring.
Persons: White Gladis, White, , Gladis Blanca, Gladis Clara, Gladis, Gladis Filabres, Gladis Tarik, Gladis Lamari, hasn't, Gladis Dalila, Black, Gladis Peque, Gladis Isa, Gladis Matteo, Gray Gladis, Mónica, Kenneth C, Gladis Olvera Organizations: Service, Orca, Guardian, for Whale Research, Orca Working Locations: Gibraltar, Strait, Gibraltar White, orcas, Southern, Iberian
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